The unprecedented lockdowns announced by various governments worldwide in March 2020 brought nearly all activities to a screeching halt overnight. Sporting activities were among the worst affected, with professional matches across various sports streams getting postponed because of the new regulations. This period saw electronic sports or eSports gaining prominence among sports lovers and those passionate about sports betting.
eSports is not a new trend and has been around for some time now. However, the peculiar circumstances created by the coronavirus in 2020 catapulted this industry to the center stage.
Post pandemic, the sports betting industry is still evolving. Experts predict a staggering growth rate for the industry in 2021 and beyond, with more gamers taking to online sports betting.
With more states in the US expected to legalize sports betting in the near future, the sports betting industry is eyeing a dazzling growth rate in a big way and is expected to reach a market size of $125.18 Billion by 2023. Mobile game companies are investing heavily in sports betting apps to entice gamers and garner a major share of the rapidly growing market.
Fantasy sports is the new buzzword in the sports and the gaming industry and has found legal acceptance in many countries. The USA is the largest market for fantasy sports and has a whopping 60 percent of the global revenue market share. Europe comes second with a market share of around 15 percent. Obviously, the USA is the best place for any new fantasy sports app development company to focus its efforts on developing its footprints.
What to Expect in 2021
More eSports Games
2020 was a transformational year for eSports as it accelerated its trend towards becoming the most valuable online entertainment asset. 2021 is expected to see a deeper convergence between eSports and mainstream sports.
Sports betting enthusiasts can look forward to a steady stream of new eSports games. The trend will be pushed further in 2021 by offering a wider selection of games and ensuring ease of accessibility.
Player Tracking – The New Hope for Bettors
Player tracking is rapidly gaining popularity among sports bettors and is expected to become a major trend in the sports betting business in 2021. It is a valuable source of data and information for bettors and helps them keep a close watch on players’ vital metrics in real-time. This can help bettors make well-informed decisions for placing a winning bet and improving the chances of a big win.
Sports bettors are always on the lookout for new trends and will most likely use player tracking to minimize risks and achieve maximum benefits. It is a powerful tool that can give the world of online sports betting a brand-new twist and allowing gamers to analyse their betting data more comprehensively and accurately.
Last-Minute Betting – More Betting Options
In the early days of online sports betting, punters had to place their bets before a match started. That is changing now. In 2020, gamers were able to place bets at any stage of the game. In 2021, the excitement is going to be even more intense with last-minute betting, which is steadily gaining popularity among a growing number of online gamers.
Last-minute betting has become a convenient option for gamers who lead busy lifestyles. With this feature, they can now place their bets after a match has started and, in some cases, even towards its end. Many online sports apps are offering this tool to add more gamers to their subscription list. Gamers can place last-minute bets remotely and conveniently to enjoy high odds and increase the probability of winning.
More Freebies and Bonuses – Enticing New Gamers
Gamers can look forward to more freebies in the form of free bets and attractive bonuses from their favorite game development company in 2021. This is a smart business move to entice novice gamers as they can play games and place bets without the risk of losing any money. This trend started in 2020 and is expected to increase in 2021. They are often given out in the form of welcome bonuses for new subscribers.
The legalization of online sports betting is happening at a rapid pace across the US, Europe, and in many other countries. Where it is still in a legal tangle, it now seems to be a question of when and not if. The pandemic has created massive budget shortfalls for almost every state, and this is a major contributing factor for governments accelerating the legislation timeline for online sports betting businesses.
2021 will see the emergence of more sports betting sites and more live streams as restrictions ease and markets open up even further.